Egypt’s Egas to Award LNG Import License Within Two Weeks

Ola Galal

February 4, 2013, 7:08 AM EST

Egypt will award a license to import liquefied natural gas within two weeks as the nation’s users prepare to buy in the fuel for the first time.

Egyptian Natural Gas Holding Co., or Egas, will probably award the license to more than one of the five companies that offered bids in the tender that closed yesterday, Sherif Soussa, the state-run company’s chairman, said today in a telephone interview from Cairo.

The nation’s industrial users will be allowed to import a maximum of 1 billion cubic feet of natural gas daily starting in the second half of 2013, Oil Minister Osama Kamal said in November. Egypt was previously an exporter of the fuel.

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